Abu Dhabi Global Market announced as home to $30bln ALTÉRRA

Abu Dhabi Global Market announced as home to $30bln ALTÉRRA

ABU DHABI - The Abu Dhabi Global Market (ADGM) was announced as the home of the newly launched catalytic climate vehicle ALTÉRRA established by Lunate the global alternative investment management company, the world’s largest private climate investment vehicle.

This historic initiative, which saw the UAE commit a US$30 billion in catalytic capital, positions ALTÉRRA to mobilise US$250 billion globally by 2030, focusing on transforming emerging markets and developing economies.

As the principal climate finance partner of COP28, ADGM has played a pivotal role in shaping the global dialogue on climate finance and aligning international efforts towards climate action. ADGM, the leading climate finance hub of the region, is uniquely distinguished by its innovative progressive regulatory framework and a centre for strategic partnerships that drive the global and regional transition towards a sustainable economy.

Ahmed Jasim Al Zaabi, Chairman of Abu Dhabi Global Market, said, "The launch of ALTÉRRA at ADGM is a testament to our efforts to lead in the space of climate finance. This aligns perfectly with ADGM's mission to foster climate finance and supports the UAE's vision to spearhead transformative global initiatives. We take pride in being the home for such a pioneering venture that is set to